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MAYNILAD Water Services Inc. is eyeing to improve service by
year-end on the back of billions of pesos worth of capital
expenditures this year.
On the sidelines of the stockholders meeting of
DMCI Holdings Inc., Herbert Consunji, Maynilad chief operating
officer, said the utility company expects to boost water supply by
increasing pipe pressure to attain 24-hour service for 65 percent of
the concessionaire’s market.
Consunji said the company is spending about P8
billion this year out of its P41 billion allocation for operations
and capital expenditures.
“At present, about 54 percent, or three
million of [our] customers are already enjoying 24-hour water supply
and improved services such as high water pressure and potable
water,” he said.
The executive said Maynilad still incurs 35
percent non-revenue water, which represents non-earning assets due
to system leakages or illegal taps. The 35 percent non-revenue water
amounts to a P23-million loss a day.
But with the ongoing improvements, the water
firm expects to bring this down to P12 million a day, Consunji said.
“[We] are targeting to complete all the
improvements in the next five years, instead of the original eight
years,” he added.
Consunji also said DMCI has yet to increase its
stake in Maynilad since it is no longer prudent to raise funds for
the purpose.
-- Katrina Mennen A. Valdez
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